MFV Token - A global single sign-on and data exchange.

A new smart contract rail to enable
wallet users to log into, pay and exchange data with Service Providers,
swiftly and securely.

Commerce, and the general process of
sales, is normally analogized with a funnel. Prospective Consumers are
poured into the top of funnel, with a few pouring out as Paying
Consumers from the bottom of the funnel while others disengage
throughout the sales process. In this analogy, Consumers can also be
non-paying users of any sort of service, such as a social network,
mobile app, or free subscription services, where the service tries to
realize
some desired benefit such as turning a non-user into a
registered
user or an audience for advertisements - the terms Consumer, Customer
and User are used interchangeably. Prospective Consumers can disengage
for many
reasons, and finding these holes in the funnel and resolving
them
is a big part of increasing sales and making the most of marketing
efforts. According to Nick Szabo, common causes for disengagement are
web forms. Forms are
tedious to fill and raise concerns for Consumers due to the personally identifiable information (“PII”) requested during
registration
such as email, credit card, phone numbers, and IP-address.
Additionally, Szabo states that the payment step of the form, ultimately
the most important step for many Service Providers, is likely to have
the highest rate of abandonment.

Consumers and Service Providers have accepted the status quo of data-heavy relationships for too long. Unlike in-person transactions, Service Providers are burdened with data collection and security up front, increasingly being targeted by hackers. Consumers are concerned with the wide, unregulated and out-of-sight, distribution of their personal data. That changes today. The MFV Project team has developed a sign-on and data exchange solution. In this paper, we highlight this solution, which is a new sign-on, payment and data framework, that eliminates unnecessary form fields and enables Consumers to control their data, pay for and use services quicker. This solution incorporates economics that incentivize Service Providers to request minimum amounts of Consumer Data and disincentivizes bad behaviour such as data over-reach. This solution, and the incentivization architecture, are built to shift the world away from the status quo of registration and payment forms to a world of higher sales conversions for Service Providers and increased privacy and better user experiences for Consumers.

Consumers and Service Providers have accepted the status quo of data-heavy relationships for too long. Unlike in-person transactions, Service Providers are burdened with data collection and security up front, increasingly being targeted by hackers. Consumers are concerned with the wide, unregulated and out-of-sight, distribution of their personal data. That changes today. The MFV Project team has developed a sign-on and data exchange solution. In this paper, we highlight this solution, which is a new sign-on, payment and data framework, that eliminates unnecessary form fields and enables Consumers to control their data, pay for and use services quicker. This solution incorporates economics that incentivize Service Providers to request minimum amounts of Consumer Data and disincentivizes bad behaviour such as data over-reach. This solution, and the incentivization architecture, are built to shift the world away from the status quo of registration and payment forms to a world of higher sales conversions for Service Providers and increased privacy and better user experiences for Consumers.

Index-of-Worry

Our proposed solution drastically reduces IoW to one input at the Service Provider and one mobile authorization.

Index-of-Worry (IoW), as defined by Szabo, is a proxy for the worry caused to Consumers about privacy, theft and value received for money spent. Szabo goes on to define the components of IoW:

IoW = # of lines of a form + # of repeated charges (for content or services of variable value)Szabo continues to clarify that if a Service Provider is funded by ads rather than consumer payments, then the proportion of screen space covered by ads, or other reasonable estimate of the delay and distraction of the ads, can be substituted for repeated charges. IoW for a single Consumer varies from business-to-business, but IoW does not change drastically for every new service or merchant a Consumer considers, especially where subscription or payments are involved. Below is the IoW for

popular subscription services

Marginal Index-of-Worry (MIoW)

Building on Szabo’s work, we arrive at another analysis which underpins the user experience today, this is the Marginal Index-of-Worry (MIoW), which is the IoW for every additional service a Consumer registers. Today, barring a few centralized single-sign on solutions, Consumers experience an MIoW which is equal to the average IoW of all Service Providers. From a Consumer experience standpoint, this is repetitive and concerning, resulting in a mental tax which Consumers are increasingly aware of. For Service Providers this is resulting in lower conversion, especially at a time when Consumers are beginning to transact fewer Services, increasing loyalty with Service Providers such as Amazon that offer better customer experiences and are aggressively expanding their offerings horizontally and vertically. Our solution allows the Consumer to securely store their data within digital wallets, while also leveraging identity

solutions to attest for their identity if required by Service Providers. The initial onboarding has an IoW comparable to modern identity solutions and new user registration, but dramatically reduces the MIoW for every subsequent registration and purchase. The solution also allows Service Providers to onboard Consumers with various permutations of data relationships that may change throughout the Consumer journey. For example, a Service Provider can entice a Consumer to sign-up for a trial of their services by not requesting any Payment Method or Personal Data, simply allowing the Consumer to sign-on and use the services. In this example IoW is a record low, allowing a safe and fair relationship for the Consumer to explore the services, and decide to pay and opt-into a data exchange, if requested by

the Service Provider.

MFV

Registration & Login

The MFV solution drastically reduces IoW to a minimum of two inputs, one input at the Service Provider and one mobile authorization for sign-up and sign-on functionality. Unlike other SSO solutions, Consumers control their own data, on their own mobile devices within digital wallets that have enabled MFV. With MFV, Consumers can manage their data on-device, similar to how they manage their cryptocurrency wallets on device. Our framework allows bitcoin, other cryptocurrency, and traditional mobile Wallet Developers, to offer sign-up and sign-in services for Service Providers that support MFV service by integrating

the MFV Wallet SDK. To start, the team developing MFV Gateway and MFV Wallet SDK will host and manage the first MFV Gateway Node for Service Providers to facilitate secured sign-on and data exchanges between all supported wallets. With SSO functionality available to Consumers in their desired wallets, Consumers can sign-up for services using their digital wallets, while also paying, pseudonymously if chosen, with the same digital wallet. Following the sign-up, Consumers can sign-in to use the services. Within a digital wallet, the Consumer can also store personal data, which Service Providers may request as part of their authentication and payment requirements. Personal Data is never required. Digital Wallet Developers have choice in their

implementation of the MFV Wallet SDK. For example, Wallet Developers that support credit card payments, may require that Consumer Data is attested to by identity providers, where the Consumer Data is still securely stored on device and negotiated for at point-of-sale. Alternatively, Wallet Developers that only support cryptocurrencies may opt to implement only the SSO experience of MFV Wallet SDK where SSO relationships can be established with Service Providers with no support for Personal Data or only low-value data such as email and nicknames. Wallet Developers may also opt to implement the complete MFV Wallet SDK where Consumers will be free to add data as required, including the ability to import data from other services such as Facebook, or when required, to attest for their identity using identity providers. Consumers may elect to use digital wallets as suited to their own requirements, electing to use multiple wallets, as they do today.The MFV Global Single Sign-on and Data Exchange establishes a new channel for Service Providers to request Personal Data securely and fairly. They are required to incentivize users for any datasets requested, with incentives weighted automatically specific to the data type requested. All incentives to Consumers are with MFV Tokens, which are funded Service Providers to the Consumers, with fees, as a percentage of the incentive, split between MFV Gateway Nodes and Wallet Developers that

support the MFV experience. Wallet Developers, Service Providers and MFV Gateway Nodes are given freedom to implement the desired authorization experience ranging from allowing Consumers to redeem the incentive for that transaction or allowing Consumers to collect MFV to be used for future purchases. All data, including the non-identifiable authentication token and payment information, are negotiated and communicated to the Service Provider through the MFV smart contract. Today, with SSO services communicate data directly to Service Providers upon a successful user authorization. In order to provide Consumers options for which digital wallets to use for sign-on and data exchanges, MFV Gateway Nodes only facilitate the exchange, rather than act as the central store for the Consumer’s data. As such, Service Providers that integrate the MFV Gateway Node can request data from users, choosing to pay or incentivize them for each data field requested, and Consumers can authorize from any wallet that supports MFV, choosing to support multiple wallets if so desired. Consumer Data can be requested in two states via the MFV contract. The first, Secured Authorization Contract (“SAC”), is an encrypted state where the Service Provider wants access to Consumer data only in the event of some sort of breach of service terms or other malicious activity. In this relationship, Service Providers never see the Consumer Data while while a live MFV sign-in and/or transactional contract exists between them and the Consumers. Unique to MFV, the Service Provider does have the option to break the contract, effectively breaking the service contract in the process, for reasons such as abuse or other breach of contract, but they will be penalized by never being allowed to negotiate a new authentication, payment and

data contract through MFV with that Consumer again. This penalty exists to incentivize Consumers not to abuse, or otherwise act nefariously with the Service Provider. Once broken, Service Providers receive the Consumer Data that was securely held. With the SAC, Consumers and Service Providers may have a harmonious, and long-term commercial relationship where Consumer Data is never exchanged. The second state, Open Authorization Contract (“OAC”), allows the Service Provider to freely access and read the Consumer Data requested as part of the sign-in and data exchange relationship with the Consumer. With the increasing demand for privacy, and opt-in or reward-based opt-in, Service Providers will find themselves reward Consumers for their patronage and data. In addition to this growing trend, Service Providers are starting to think critically about their business and security. Specifically, Service Providers are reconsidering storing and managing personally identifiable data about their Consumers and opting for SSO or two-factor authentication services that attest for the user’s identity instead. More importantly, Payment Processors that integrate the MFV Gateway Node, can subsequently offer the MFV Sign-on & Data Exchange to their customers, the Service Providers, as a value-add and new revenue stream versus transaction fees only. Consumers using digital wallets with MFV SSO can rest assured that their data, if requested by the Service Provider, originates from their wallets only. After registration and payment, their sign-on relationship is similar to other SSO services where authorizations will have an expiry, be limited to the devices they were initiated from, and have the ability to manage active sessions from their digital wallets.

Payments

Payments continue to be the leading cause of abandonment during checkout for users. In addition to the worry associated with privacy and theft concerns Consumers experience, there are worries around the value of the goods and services. For this reason, it is suggested that Payment Processors lead in hosting and maintaining MFV Gateway Nodes MFV, when coupled with Payment Processors, offers a seamless user experience for Consumers that allows them to establish a sign-on, data and payment relationship with Service Providers. Instead of Service Providers hosting their own MFV Gateway Node independently, Payment Processors can offer their MFV Gateway Node as a value-added rail integrated with their payment gateways. In addition to increased transaction fees as

a result of increased conversion rates experienced by Service Providers, Payment Processors receive revenue as a percentage of incentives brokered, playing an integral role in brokering the sign-on and data exchange between Service Providers and Consumers. Adoption by Payment Processors plays an integral role to the MFV Global Sign-on and Data Exchange. Whereas MFV, from a Consumer Data standpoint, is decentralized by Wallet Developers implementing the MFV Wallet SDK, adoption by Payment Processors increases the decentralization of MFV Gateway Nodes.In addition to brokering the SSO and data exchange, MFV Gateway Node also facilitate redemption of MFV, at point of sale. The MFV Gateway, coupled with bitcoin or other cryptocurrency wallets, becomes a compelling

full-stack sign-up, sign-in, data incentive & payment service that will allow any Service Provider to easily authenticate users and accept payments. This solution is more powerful than integrating centralized SSO solutions, and fast tracks the adoption of anti-money laundering (AML) and know-your-customer (KYC) focused identity providers at the

wallet level.. To generate interest and adoption from Service Providers, The MFV Project team will develop a payment

gateway and establish partnerships with Service Providers to adopt the payment and MFV Gateway in its entirety. As more Service Providers adopt the MFV Gateway, Wallet Developers, and Payment Processors will have confidence to invest in implementation of the MFV Wallet SDK and

MFV Gateway, respectively.

MFV Token

The MFV Token is the the only token and method of exchange that is supported by the MFV Global Single Sign-on and Data Exchange. Consumers earn MFV when paying for or using supported services. MFV Token may also be exchanged with supported

Payment Processors in place of payment processing fees or other services. Available immediately, MFV Token holders may redeem their tokens for payment processing fees incurred with The MFV Project team, subject to change as wider utility increases, including use as incentives.

Token Supply

A total of 1 billion MFV Tokens are generated and available for use within the MFV Global Single Sign-On and Data Exchange network. No additional tokens are expected to be generated at this time. If additional tokens need to be generated

for unforeseen reasons, for example the adoption of MFV Wallet SDK by a large social network or messaging platform, the tokens will be distributed as an airdrop to all token holders with 30-days notice, with mechanics and details of the airdrop being communicated publicly.

Token Allocation

The MFV Token is the the only token and method of exchange that is supported by the MFV Global Single Sign-on and Data Exchange. Consumers earn MFV when paying for or using supported services. MFV Token may also be exchanged with supported

Payment Processors in place of payment processing fees or other services. Available immediately, MFV Token holders may redeem their tokens for payment processing fees incurred with The MFV Project team, subject to change as wider utility increases, including use as incentives.

A total of 1 billion MFV Tokens are generated and available for use within the MFV Global Single Sign-On and Data Exchange network. No additional tokens are expected to be generated at this time. If additional tokens need to be generated

for unforeseen reasons, for example the adoption of MFV Wallet SDK by a large social network or messaging platform, the tokens will be distributed as an airdrop to all token holders with 30-days notice, with mechanics and details of the airdrop being communicated publicly.

• 10% of all MFV Tokens, or 100,000,000 MFV, are allocated to purchasers

in the Token Sale.

• 33% of all MFV Tokens, or 330,000,000 MFV, are allocated for future

Token Sales.

• 33% of all MFV Tokens, or 330,000,000 MFV, are allocated to incentivize sustained adoption of MFV Global Single Sign-On & Data Exchange by Service Providers, MFV Gateway Nodes, Wallet Developers and the

MFV ecosystem.

• 23% of all MFV Tokens, or 230,000,000 MFV, is retained for The MFV

Project team.

• 1% of all MFV Tokens, or 10,000,000 MFV, are allocated for the Integrated

Philanthropy program.

Token Sale

Eligible Purchasers• Service Providers, including individuals such as independent freelancers, sole proprietors, part-time contractors, that will exchange Tokens for services with supported Payment Processors or merchants, • Service Providers, including individuals such as independent freelancers, sole proprietors, part-time contractors, that will use MFV to incentivize Consumers

• Payment Processors, or other prospective MFV Gateway Node hosts, that are purchasing MFV as inventory to be sold to Service Providers • Wallet Developers who wish to incentivize adoption by their users by topping up any MFV incentives given by Service Providers.

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